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Will you owe taxes on Social Security benefits?
Maybe. That’s the short answer to the question on owing income tax on Social Security benefits. Robert Powell writing in USA Today goes over the thresholds where tax kicks in, noting they have never been adjusted for inflation since 1993. But that doesn’t mean there aren’t strategies to reduce the tax you may owe. The key is to lower your adjusted gross income, or AGI. Powel explains that and the states that tax benefits in the full article here.
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